Ahead of the yuletide season, which is usually fraught with fuel scarcity, some 561,556 metric tons of premium motor spirit (PMS) valued at N71.87 billion are being discharged at the port jetties in Lagos. The fuel was ferried by 15 merchant tankers to three jetties in Lagos.

Consequently, Nigeria has imported 1.12 billion PMS valued at N143.45 billion at the landing price within two months. Already, the Petroleum Products Pricing Regulatory Agency (PPPRA), in its fresh guideline to regulate the importation of petroleum products into the country, had said that allocation of import permit to importers would be based on performance and capability.

It was gathered that 86.3 per cent of the new fuel imports would be offloaded at Atlas Cove Jetty (ACJ), while the remaining 13.7 per cent would be offloaded at Single Bouy Mooring (SBM) and Bulk Oil Plant (BOP). Early last September, Nigeria imported 559,721 metric tons of PMS valued at N71.6 billion. The fuel was conveyed to various jetties by 16 merchant vessels out of which 12 vessels offloaded their imports at the Atlas Cove Jetty (ACJ), while four berthed at Single Bouy Mooring (SBM).

Source: New Telegraph